Frances Gagua
The New World of Risks Faced by Digital Banks in Singapore
The New World of Risks Faced by Digital Banks in Singapore
The digital banking sector in Singapore has grown in importance over the years alongside the established banks, improving the quality of financial services, albeit in a competitive environment with one of the most stringent licensing and regulatory regimes.
Australia’s NAB fiend A$2.1m for wrongfully charging fees: report
Over 3,000 customers were affected.
CIMB Philippines triples revenue, doubles loan portfolio in H1
The digital-only bank now has 7.13 million customers in total.
Strong regional earnings boosts MUFG’s profits
In case of trouble, MUFG has a high likelihood of getting government support.
BOCHK Hong Kong dollar interest rates stay the same
Savings accounts with a daily account balance over HK$1m will enjoy a bonus rate.
Tech and transformation take center stage at the ABF Summit 2023
Over 180 participants graced the 20+ sessions in the day-long event.
HSBC earmarks $1b to support climate tech start-ups
They hope to fund start-ups offering a range of climate tech solutions.
SCB, SMBC act as lead arrangers, coordinators for €500m green loan
The Thai company plans to use proceeds for refinancing purposes.
JCB, Indonesia’s BNI launch credit card with focus on dining
Cardholders will get a $974 cashback if they spend $9,750 across a certain period.
BOCHK warns of 9 fraudulent websites, phishing email
It has reported the case to local authorities.
BEA warns against 16 fraudulent websites
It has reported these sites to the local police and the HKMA.
HSBC taps 8 ex-Credit Suisse bankers for equities business: report
Appointments were for Hong Kong, London, New York, and Mumbai.
Changi Pay joins Alipay+ ecosystem, can now be used to pay in China
New users who top up S$50 will receive S$40 off iShopChangi purchases.
MAS enforced over S$20m in penalties in past 18 months
Authorities issued 18 prohibition orders and logged a total of 39 criminal convictions.
OCBC taps Alipay+ to enable customers to pay in China, Korea, Malaysia with digital app
Payments will be made directly from customers’ OCBC SG bank accounts.
Weekly Global News Wrap: Morgan Stanley rolling out gen AI support for FAs; Russia’s Sovcombank sues HSBC to recover debt
And private equity firms allege fraud as they seek $750m from Morgan Stanely.
Citi TTS pilots token services for cash management, trade finance
Citi will integrate tokenised deposits and smart contracts in its global network.
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1. OCBC new investors triple as bank braces for 2026 gold, silver uptick 2. Singapore banks lead pay as hiring access ranks low 3. Standard Chartered launches ESG-linked cash account 4. How will agentic AI change online payments? 5. Banks to pursue smaller and more strategic M&As in 2026: McKinseyResource Center
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